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1 How To... navigating premier nationwide lending locking online system Contents Logging in and pipeline...2 Logging in...2 pipeline...2 pricing and locking a loan...3 product search...3 locking or pricing a loan...3 uploading a loan...3 lien information...3 loan information...4 borrower information...4 property information...5 first lien search criteria...5 search results...6 re-submit option...6 eligible products...6 lock form...9 borrower information...9 property information...9 make sure everything is correct...10 add notes...10 finish locking

2 How To... using the loan product pricing and eligibility engine a quick guide to finding, pricing, and locking your loans. logging in pipeline logging in and pipeline The web address to price and lock loans is When you login, it will take you to your pipeline. The locking online system is not linked to the underwriting system, so if you have not uploaded the loan previously into the locking online sytem it will not be in your pipeline even if the loan has been underwritten. You may use Explorer, Chrome, Firefox, or Safari to lock your loans. 1. To start a new search click New Search. If you are on another page and want to switch to a different loan clicking Pipeline will bring you back to this page. 2. Pipeline Options allow you to narrow your search by status of your loans. If you have entered a loan previously but you do not see it, make sure all appropriate boxes are marked. 3. Date Range also allows you to narrow your search. If you do not see the loan you are looking for check to make sure the set range is wide enough. 4. If you click on the title of any column it will sort your loans by that field. 5. If the status does not show Locked then the loan is not locked. 6. Selecting the magnifying glass will take you to the first page of that loan. If it is not locked you will be able to change the parameters. 2

3 pricing and locking a loan product search You can upload a loan or enter it manually. Click on the New Search tab to price the loan. locking or pricing a loan All fields with a red dot are required fields. Double check all fields to ensure information is correct. uploading a loan 1. Click on Browse and select the loan you want to upload. If you are manually entering a loan skip this section. 2. Select Start New Loan to import the file. lien information 1. First Lien Amount is your loan amount. 2. If you have a second lien you will enter it in Second Lien Amount. 3. The HELOC fields should not be changed since we do not offer HELOCS. 3

4 pricing and locking a loan cont. loan information 1. Sales Price is for the sales price for a purchase or appraised value on a refinance. 2. Appraisal Amount is for the appraised value for purchase and refinance loans. 3. Loan Purpose is where you enter the purchase or the type of refinance. If this is a construct to perm you choose purchase. There is a construction field under Borrower Information. 4. Texas A-6 must be changed to Yes if the loan is a Texas Cashout. The loan purpose must also be marked a Refi Cashout to price correctly. If it is a FNMA Cashout leave this as No. 5. The LTV and CLTV are automatically calculated once the first lien, second lien, sales price, and appraised value are completed. 6. Cash-Out Amount requires at least 1 dollar for cash-out loans. If it is not a cash-out it must remain 0 or it will disqualify the loan. 7. Waive Escrows defaults to YES. If you mark Yes on a FHA, VA, or loan over 80% there will be no eligible products. 8. Admin Fee Included in Price allows you to have the option to build this fee into the price. 9. Lender Paid Compensation defaults to YES. If left as YES the price will have the compensation taken out of the price automatically. 10. HUD Repo needs to be checked YES if it is a HUD repo to allow a higher LTV and disqualify ineligible products % ltv with 5% Gift is for conevntional loans with a gift of 5% or more. 12. MCC Bond or DPA Program does affect eligibility. 13. Family Opportunity Loans needs to be yes to ensure the correct product is applied. borrower information 1. Borrower First Name and Borrower Last Name is the primary borrower. 2. Borrower FICO is the qualifying score used for underwriting. If there is only one borrower leave the Co-Borrower FICO blank. 3. Income Documentation, Asset Documentation, and Employment Documentation always default to verified. 4. DTI Ratio needs to have an accurate number to ensure product and pricing eligibility. 5. Citizenship, First Time Home Buyer, Non-Occupant Co-Borrower and Self Employed also must be correctly entered for eligibility. 6. Qualifying FICO Score pulls the lowest mid FICO between the Borrower and Co Borrower. 7. Months of Reserves is required for certain products, e.g. Jumbo Loans. The system defaults to 12 months. 4

5 pricing and locking a loan cont. property information 1. If the Occupancy is not entered correctly the price adjustment might greatly affect the price. 2. If the Property Type is a Condo, the Number of Stories must be entered. If the loan is a duplex, three or four unit, select SFR and change the Number of Units. If the loan is not locked as a Condo the loan might be subject to an additional adjustment. You must call pricing to change the loan to a Condo if locked incorrectly. 3. The State defaults to Texas, but if it is another state make sure it is changed for eligibility and pricing. 4. The County needs to be correct for pricing and FHA loan limits. 5. Construction needs to be marked yes if this is a construct to perm loan. 6. Property Zip is important for eligibility and pricing. An example would be for disaster areas. 7. PIW is for Property Inspection Waiver. first lien search criteria If you are looking for multiple options you may select up to three boxes per line. 1. Loan Type for jumbo pricing Non-Conforming needs to be checked. 2. ARM Fixed Terms will not provide ARM products if ARM has not been selected on the Amortization Type Line. 3. Desired Price, Desired Rate, and Desired Lock Period may be left blank. If these are left blank the rate closest to par for 30 days will be displayed on the next page. 4. Borrower Pays MI (if required) defaults to YES. It should be NO if it is Lender Paid MI. There will be adjustments for Lender Paid MI. 5. Automated U/W should remain unspecified for most loans even if it is manually underwritten. An example of when to change this would be a conventional loan with the DTI over 45% going LP. 6. Once all information is completed click the Submit button. This will take you to eligible products. 7. Save As Prospect saves the loan to your pipeline. 5

6 search results 1. If you click on the magnifying glass it will take you to the first screeen where the initial information for the loan was entered. re-submit options 1. Re-Submit resets the eligible products and prices for changes you make from this page. 2. Fields grayed out cannot be changed. 3. You can adjust Desired Rate, Desired Price, or Desired Lock, and click Re-Submit to adjust product search. eligible products Depending on the criteria entered one or more products are displayed. To view the full range of rates and prices click on the product or show on the far right. 6

7 search results cont. 1. Desired Lock the default lock period is 30 days. To see different lock periods enter the number of desired days and click Re-Submit. 2. Lock Period displays the number of days for your scenario. 3. APOR for the week which will fluctuate weekly. 4. Bona Fide Discount will not be included in the points and fees 5. QM Fee Cap is the fee cap for the loan amount. 6. Remaining Fees Below Cap are any fees that apply to the points and fees and will be deducted from the QM fee cap. 7. Qualified Mortgage shows if the loan initially qualifies. 8. QM Trace is a link showing a more detailed description of the QM Analysis. This will show you reasons for disqualification marked by an X. 9. Discount/Rebate is the final price showing a credit or discount to the borrower. 10. Lock Icon is used to select the rate and price you want. The QM fee cap, Remaining fees, and QM are only to be used as a guide. These are derived with a basic estimation. Though products may return eligible, this system does NOT return an underwriting approval. We may not be able to do this loan. 7

8 search results cont. Bona fide discount excludable from points and fees is capped at 2%. Above is a breakdown the QM icon gives you for analyzing the loan. APR is based on fees for an average loan. The actual APR may be higher or lower. Do not use this calculation as a true APR. 8

9 lock form borrower information 1. This is the loan officer tied to the login used for the system. 2. This is the name of your company and location. If it is not correct please contact the lock desk. 3. This is for your phone number and fax number. This is not for the borrower. 4. Please make sure the borrower s name is correct. 5. Correct social security number is required to a lock loan. 6. If any of these fields are incorrect click on the magnify glass to go back to correct these items. 7. This field is not required to be completed. property information 1. Property Address is required. If this is not completed correctly your lock may be denied or delay closing. If the borrower gets a new property address the file will have to go current market.. 9

10 lock form cont. make sure everything is correct before requesting your lock add notes 1. Use this field to enter notes if you have any requests or comments. 2. Once the note has been typed click the Add Note button or the note will not be added to the lock. The note will show in the Loan Note Board. 10

11 lock form cont. finish locking 1. Save Loan and Register Loan saves the loan to your pipeline. At this point the Lockdesk will not be able to see this loan in your pipeline. 2. Click Request Lock to lock the loan. 11

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